What are the process of managing procurement relationships and How do they inform the Control Procurements process?
The process of managing procurement relationships is managing the supplier relationships for procurement with timely issue of purchase orders, managing delivery of goods within the given time schedule, receipt of goods, quality checks, timely payments to the suppliers. The procurement relationships are managed by establishing goals, guidelines, policies and standards . Contractual agreements are made with the suppliers which are monitored to inform the control procurement process.
Control Procurements process involves managing the contractual obligations of he buyer and supplier as per the agreed terms and conditions. The process monitors the buyers are fulfilling their obligations like making timely payments and suppliers are adhering to the procurement requirements and standards. It uses planning for maintaining records of the progress. It includes audits and inspection as well as expert advise. The data is gathered and analyzed regularly to control the procurement process. It can introduce any changes if required in the agreement before the contract closure or do modifications by mutual consent of buyer and seller if it is not in the purview of contractual obligations. The changes made need to be documented for review and implementation.
What are the process of managing procurement relationships and How do they inform the Control Procurements...
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